18. The collection of an account receivable is an asset source transaction.

True False

19. A company that uses the direct write-off method of accounting for uncollectible accounts must still prepare a year-end adjusting entry to estimate its uncollectibles.

True False

20. Tangible assets include land, equipment, and goodwill.

True False

21. Intangible assets include patents, copyrights, and franchises.

True False

22. The term used to recognize expense for property, plant, and equipment assets is depletion.

True False